State Street Corporation (NYSE:STT), a leading financial services provider, announced today the redemption of all its outstanding shares of Series H non-cumulative perpetual preferred stock. The redemption will occur on September 16, 2024, and involves 5,000 shares (represented by depositary shares, each representing a 1/100th interest in a share of Series H Preferred Stock).
The company will redeem the shares for cash at a redemption price of $100,000 per share, which is equivalent to $1,000 per depositary share. Additionally, shareholders are entitled to any declared but unpaid dividends up to, but not including, the redemption date. However, the cash dividend declared on July 18, 2024, will not be included in the redemption price.
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